Caesars Stock Gets Bump From ESPN's New Sports Betting Deal
Shares of Caesars Entertainment (NASDAQ: CZR) have jumped more than 9% today, rising to more than $54 per share in afternoon trading after the casino and entertainment company inked a digital sportsbook deal with Walt Disney (NYSE: DIS) network ESPN. Caesars already gained 47.5% during August, following its merger with Eldorado Resorts and the reopening of casinos as COVID-19 declined from its peak.
According to a release from Caesars, ESPN's platforms will integrate both Caesars' digital presence and the Caesars Sportsbook operated by its "exclusive sports betting operator," William Hill (OTC: WIMHY). Targeted links to the sportsbook will now appear on the website and mobile app of ESPN.com, allowing easy access to betting in areas where online wagering is legal.
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Source Fool.com
